Artificial intelligence remains a hot-button topic on Wall Street
Artificial intelligence (AI) continues to make headlines, as energy providers struggle to keep up with power grid demand. Big market movers C3ai Inc (NYSE:AI) and Palantir Technologies Inc (NYSE:PLTR) have been popular names amongst traders in the past. However, below we’ll take a quick dive into why October may be the right time to revisit the tech powerhouses.
At last check, AI was trading up 3.3% at $38.74. The shares have struggled all year to maintain momentum after hitting an 52-week high of $38.30 on Feb. 29. The equity fell to an annual low in early September, and the subsequent bounce from these lows was turned away at the 50-day moving average.
PLTR is up 3.3% to trade at $38.72, and earlier touched a fresh three-year high of $38.97. . The shares have been rigorously climbing higher since early 2023 lows, with both their 30- and 50-day moving averages capturing pullbacks over the past year.
Options on both securities are looking affordable. This is per C3ai and Palantir stocks’ Schaeffer’s Volatility Index (SVI) rating of 51% and 41%, which rank in the low 11th and 6th annual percentiles, respectively.